Shein stocks begin trading on HKEX

Reports indicate that the shares of the online fast-fashion company "Shein" settled at a price close to the initial offering price during their first trading session on the Hong Kong Stock Exchange, after a prior decline of up to 10%. Despite attempts by the company to go public following unsuccessful efforts in New York and London, the listing ultimately took place in Hong Kong due to heavy Chinese regulatory scrutiny. The market reflects investors' concerns about slowing growth and rising costs, with the company's market valuation estimated at around $26.3 billion, down from nearly $100 billion at its peak in 2022.

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